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How will a cashless society affect the poorest ?





This economic metamorphosis affects everyone, not just the most extremely poor. In our struggling economy, many middle-income families are trying to keep pace with the ever more challenging cost of living. In the post-Brexit period, the UK economy is expected to take a withering hit. People, as always, will want to control their spending and keep an eye on their finances, and the best way to do this is by using cash. The connection between card payments and higher spending is well-documented. If cash is no longer an option, the risk of cycles of perpetual spending problems among lower-income households is almost guaranteed.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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